Eric Trump, the second son of President Donald Trump, has denied claims that he exposed US Bitcoin shareholders to a $500 million loss.
In his defense, Eric Trump denounced the Forbes report for bias and for becoming a “political tool.” About US Bitcoin, Eric added:
7 months and 25 days ago we went public on the NASDAQ. Today we own over 7,000 Bitcoins and are the 16th largest publicly traded Bitcoin company in the world.
Eric Trump further highlighted how well the Bitcoin mining and treasury company he created is performing:
In the fourth quarter alone, we increased the Bitcoin on our balance sheet by 58% and mined it at a 53% discount to the market price of BTC. We reported $78.3 million in revenue in the fourth quarter, up 22% quarter-over-quarter.
He concluded that the Forbes report on his company was a “disgrace to journalism.”
Forbes’ claims against Eric Trump
According to Forbes reportthe company used its $13.2 billion valuation and $370 million BTC when it went public last September to dilute its shares for more BTC purchases. The report added:
In contrast, ordinary investors who joined in on the sales pitch are down an estimated $500 million
In contrast, Eric Trump is said to have seen his fortune increase from $190 million to $280 million, and other insiders also saw a financial windfall.
But the stock (Nasdaq: ABTC) has since fallen 92% from its peak, worsening the situation for common shareholders amid aggressive stock dilution. The stock fell from a peak of $175 in late 2025 to its current value of $1.19. The report added:
The President’s Second Son Presents His Bitcoin Company as a Money Printing Machine. It’s basically an arbitrage vehicle that preys on MAGA-oriented investors.
That said, as of April, the company owned 7,000 BTC, worth $539 million, with an mNAV (relative value of BTC to its market cap) of 2.
In other words, the mNAV was above 1 and considered healthy for more stock sales to scale up BTC purchases. In fact, the company recently added more than 11,000 ASIC miners to scale up its mining operations.
Final summary
- Eric Trump denied claims that his company led to $500 million in shareholder losses, citing BTC’s strong sales and accumulation growth.
- Forbes criticized the sharp decline in stock prices and continued dilution of stock prices, which is said to have affected retail investors.